S&P 500 Daily Perspective for Mon 7 Aug 2023

The market has sold off, but the current weakness may be deceptive

GDR Model Performance

This year has been challenging for the GDR Model’s style due to low confidence in the market at the start of the year.

GDR Model Outlook

The GDR Model picked up on considerable weakness last week. It remains to be seen whether it will be sustained.

GDR Model Position

The GDR Model is now slightlys short. This is mainly driven by the weakness at the end of the last week. However, it’s important to note that the weakness the model picked is quite a bit less than what price action suggests.

S&P 500 Futures Market Profile Chart